Cidel Asset Management Inc. Purchases Shares of 411,232 Gentex Co. (NASDAQ:GNTX)

Cidel Asset Management Inc. acquired a new position in shares of Gentex Co. (NASDAQ:GNTX) during the fourth quarter, HoldingsChannel reports. The firm acquired 411,232 shares of the auto parts company’s stock, valued at approximately $11,815,000.

Other large investors also recently made changes to their positions in the company. Synergy Asset Management LLC acquired a new stake in Gentex in the fourth quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Gentex by 227.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 1,269 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Gentex during the third quarter worth about $125,000. GAMMA Investing LLC increased its position in Gentex by 159.1% during the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock worth $147,000 after buying an additional 3,152 shares during the last quarter. Finally, KBC Group NV raised its stake in Gentex by 13.3% in the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock valued at $168,000 after buying an additional 667 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Up 0.1 %

Shares of NASDAQ:GNTX opened at $25.06 on Friday. Gentex Co. has a 12-month low of $24.57 and a 12-month high of $37.58. The company’s 50 day moving average price is $28.50 and its two-hundred day moving average price is $29.56. The firm has a market cap of $5.70 billion, a PE ratio of 14.24, a PEG ratio of 0.86 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period last year, the company posted $0.50 EPS. On average, research analysts expect that Gentex Co. will post 2.1 EPS for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is presently 27.27%.

Analyst Ratings Changes

GNTX has been the topic of a number of recent analyst reports. UBS Group decreased their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Bank of America reduced their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Guggenheim lowered their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, B. Riley restated a “buy” rating and set a $32.50 price objective (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.06.

Gentex Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.